German inflation unexpectedly accelerated to 9.3% in February

According to the German Federal Statistical Office Destatis, consumer prices in the country, harmonized with EU standards, increased by 9.3% in annual terms in February. Thus, the rate of inflation accelerated compared to 9.2% in January. Analysts on average predicted a slowdown in inflation last month to 9%.

On a monthly basis, consumer prices in February increased by 1% compared to January – the highest pace in 4 months. Experts had expected a 0.7% increase after a 0.5% increase in January.

Consumer prices calculated only according to German standards increased by 8.7% in annual terms and by 0.8% on a monthly basis. In January, their growth was 8.7% and 1%, respectively.

In particular, the cost of energy in Germany has increased by 19.1%, and products have risen in price by 21.8%. Goods in general increased in price by 12.4%, the cost of services increased by 4.7%.